Civic Intelligence

Local 67 Training Program Trust

990 • Fiscal year 2023 • EIN 51-0195703

Dec 01, 2022 to Nov 30, 2023 • Filed on Feb 14, 2024

Organization Profile

View Organization Page

1501 E Aurora Avenue Suite BDes Moines, IA 50313-3912

(515) 262-9366

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

63rd percentile

0.03x

Higher debt load relative to assets than 63% of similar nonprofits.

2023 filings • 501(c)5 • $1M-$5M nonprofits • Source year 2023

Liabilities / Revenue

73rd percentile

0.09x

Higher debt load relative to revenue than 73% of similar nonprofits.

2023 filings • 501(c)5 • $1M-$5M nonprofits • Source year 2023

Net Margin

7th percentile

-18%

Higher net margin than 7% of similar nonprofits.

2023 filings • 501(c)5 • $1M-$5M nonprofits • Source year 2023

Top Officer Pay

72nd percentile

$159,791

Higher top officer pay than 72% of similar nonprofits.

Top officer pay equals 29.8% of source-year revenue.

2023 filings • 501(c)5 • $1M-$5M nonprofits • Source year 2023

Asset Growth

18th percentile

-3.9%

Faster asset growth than 18% of similar nonprofits.

2023 filings • 501(c)5 • $1M-$5M nonprofits • Annualized from 2022 to 2023

Revenue Growth

13th percentile

-13%

Faster revenue growth than 13% of similar nonprofits.

2023 filings • 501(c)5 • $1M-$5M nonprofits • Annualized from 2022 to 2023

Balance Sheet
Liabilities / Assets63rd percentile

Assets

Down

$1,532,002

Down $62,545 (-3.9%) from 2022

Net Assets

Down

$1,485,461

Down $95,689 (-6.1%) from 2022

Liabilities

Up

$46,541

Up $33,144 (+247%) from 2022

Revenue And Expenses
Liabilities / Revenue73rd percentileNet Margin7th percentile

Revenue

Down

$536,249

Down $77,040 (-13%) from 2022

Expenses

Up

$631,938

Up $87,764 (+16%) from 2022

Net Income

Down

-$95,689

Down $164,804 (-238%) from 2022

Historical Trend

Balance Sheet Trend

Asset Growth18th percentile

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$2.0M$1.5M$1.0M$500K$0Assets 2011: $343,768Liabilities 2011: $8,5412011Assets 2012: $337,095Liabilities 2012: $9,881Net Assets 2012: $327,2142012Assets 2013: $326,769Liabilities 2013: $17,620Net Assets 2013: $309,1492013Assets 2014: $255,764Liabilities 2014: $14,846Net Assets 2014: $240,9182014Assets 2015: $300,168Liabilities 2015: $21,995Net Assets 2015: $278,1732015Assets 2016: $409,493Liabilities 2016: $25,184Net Assets 2016: $384,3092016Assets 2017: $591,609Liabilities 2017: $21,028Net Assets 2017: $570,5812017Assets 2018: $767,322Liabilities 2018: $62,002Net Assets 2018: $705,3202018Assets 2019: $1,061,037Liabilities 2019: $12,122Net Assets 2019: $1,048,9152019Assets 2020: $1,358,315Liabilities 2020: $44,899Net Assets 2020: $1,313,4162020Assets 2021: $1,529,928Liabilities 2021: $17,893Net Assets 2021: $1,512,0352021Assets 2022: $1,594,547Liabilities 2022: $13,397Net Assets 2022: $1,581,1502022Assets 2023: $1,532,002Liabilities 2023: $46,541Net Assets 2023: $1,485,4612023Assets 2024: $1,428,205Liabilities 2024: $27,200Net Assets 2024: $1,401,0052024Assets 2025: $1,358,366Liabilities 2025: $14,274Net Assets 2025: $1,344,0922025

Highlighted filing

2023

Assets$1,532,002
Liabilities$46,541
Net Assets$1,485,461
Open 2023 Filing

Operations Trend

Revenue Growth13th percentile

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$1.0M$500K$0-$500KRevenue 2011: $188,661Expenses 2011: $168,381Net Income 2011: $20,2802011Expenses 2012: $218,1592012Revenue 2013: $201,552Expenses 2013: $219,617Net Income 2013: -$18,0652013Revenue 2014: $235,777Expenses 2014: $304,008Net Income 2014: -$68,2312014Revenue 2015: $314,882Expenses 2015: $277,627Net Income 2015: $37,2552015Revenue 2016: $426,300Expenses 2016: $320,164Net Income 2016: $106,1362016Revenue 2017: $540,082Expenses 2017: $353,810Net Income 2017: $186,2722017Revenue 2018: $540,712Expenses 2018: $405,973Net Income 2018: $134,7392018Revenue 2019: $779,345Expenses 2019: $435,750Net Income 2019: $343,5952019Revenue 2020: $660,102Expenses 2020: $395,601Net Income 2020: $264,5012020Revenue 2021: $606,926Expenses 2021: $408,307Net Income 2021: $198,6192021Revenue 2022: $613,289Expenses 2022: $544,174Net Income 2022: $69,1152022Revenue 2023: $536,249Expenses 2023: $631,938Net Income 2023: -$95,6892023Revenue 2024: $520,084Expenses 2024: $604,540Net Income 2024: -$84,4562024Revenue 2025: $499,656Expenses 2025: $556,569Net Income 2025: -$56,9132025

Highlighted filing

2023

Revenue$536,249
Expenses$631,938
Net Income-$95,689
Open 2023 Filing
Jump To
Filing Snapshot
Filing Period
Dec 1, 2022 to Nov 30, 2023
Signed
Feb 14, 2024
Return Version
2022v5.0
Gross Receipts
$568,427
Mission and Program Overview

Mission

This is a multiemployer collectively bargained plan that provides training and education for apprentices and journeyman ironworkers.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$858,984$795,311▼ $63,673
Land, Buildings, and Equipment, Net$620,492$700,489▲ $79,997
Accounts Receivable$115,071$36,202▼ $78,869
Total Assets$1,594,547$1,532,002▼ $62,545
Liabilities
Accounts Payable and Accrued Expenses$13,397$46,541▲ $33,144
Total Liabilities$13,397$46,541▲ $33,144
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$1,581,150$1,485,461▼ $95,689
Total Net Assets Fund Balance$1,581,150$1,485,461▼ $95,689
Total Liabilities and Net Assets / Fund Balance$1,594,547$1,532,002▼ $62,545

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$700,489$412,101$1,112,590
Compensation and Service Providers
Top Officer Pay72nd percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Joseph DurbyApprentice CFT$113,411$46,380$159,791
Joseph DurbyApprentice Coordinat-$113,411$46,380$159,791

Board Members and Trustees

NameTitle
Brad ChurchillTrustee
James WattTrustee
Jimmy AlitzTrustee
Nick FranklinTrustee
SHAUN O'TOOLTrustee
Steve FangmanTrustee
Revenue and Support

Revenue Composition

Contributions and Grants
$85,000
Program Service Revenue
$444,635
Investment Income
$6,614
Other Revenue
$0
All Other Contributions
$85,000
Change in Net Assets
$-95,689

Audited Revenue Reconciliation

Revenue per Audited Statements
$536,249
Total Revenue per Audited Statements
$536,249
Total Revenue per Form 990
$536,249
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$339,555
Other Expenses$292,383
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Current Officers, Directors, Trustees, and Key Employees---$157,184
Other Salaries and Wages---$144,689
Depreciation Depletion---$94,907
Occupancy---$88,306
Other Expenses---$47,568
Travel---$31,871
Payroll Taxes---$22,847
Fees for Services Accounting---$12,674
Other Employee Benefits---$7,888
Pension Plan Contributions---$6,947
Office Expenses---$6,727
Conferences and Meetings---$5,273
Insurance---$4,965
Advertising---$92
Total Functional Expenses$0$0$0$631,938

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$631,938
Total Expenses per Audited Statements$631,938
Total Expenses per Form 990$631,938
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Subject to proxy tax
No
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Audit committee
No
Business relationship with 35% controlled entity
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
Yes
Other officer compensation reviewed
No
Conflict-of-interest policy
No
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Page 6, Part VI, Line 8B

“There are no other committees.”

Form 990, Page 6, Part VI, Line 11B

“No review was or will be conducted.”

Form 990, Page 6, Part VI, Line 15A

“Compensation for the apprentice coordinator is based on wages and benefits in the current cba for the classification of "foreman."”

Form 990, Page 6, Part VI, Line 19

“Governing documents are available to fund participants at the fund office. Otherwise, no documents are available to the public.”

Filing and Contact Details

Filer

Filer Name
Local 67 Training Program Trust
EIN
51-0195703
Phone
5152629366
Address
1501 E AURORA AVENUE SUITE B, DES MOINES, IA 50313-3912
Doing Business As
Des Moines Iron Workers

Signing Officer

Name
James Watt
Title
Trustee
Phone
5152629366
Signed
2024-02-14
Discuss with paid preparer
Yes

Organization Details

Principal Officer
James Watt
Formed
1968
Legal Domicile
Ia
Voting Board Members
6
Independent Board Members
6
Employees
10

Preparer

Firm
Deboer & Associates Pc
Address
17330 WRIGHT ST STE 100, OMAHA, NE 68130-2157
Preparer
Chris Wassenaar
Phone
4023335200
Supplemental Narrative

Additional Explanations

Form 990, Page 1, Item C

“Des moines iron workers apprenticeship fund”

Financial Statement Notes

Schedule D, Page 3, Part X

“The fund has adopted guidance on accounting for uncertainty in income taxes issued by the financial accounting standards board. Management of the fund believes that the fund has taken no uncertain tax positions that require adjustment to the financial statements in order to comply with the provisions of this guidance. The fund is subject to routine audits by taxing jurisdictions; however, there are currently no audits for any tax periods in progress.”

Raw XML Appendix368 raw XML fields

This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990/Form990PartVIISectionAGrp/TitleTxt0APPRENTICE C
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IRS990/Form990PartVIISectionAGrp/TitleTxt2TRUSTEE
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THERE ARE NO OTHER COMMITTEES.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2NO REVIEW WAS OR WILL BE CONDUCTED.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3COMPENSATION FOR THE APPRENTICE COORDINATOR IS BASED ON WAGES AND BENEFITS IN THE CURRENT CBA FOR THE CLASSIFICATION OF "FOREMAN."
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4GOVERNING DOCUMENTS ARE AVAILABLE TO FUND PARTICIPANTS AT THE FUND OFFICE. OTHERWISE, NO DOCUMENTS ARE AVAILABLE TO THE PUBLIC.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PAGE 1, ITEM C
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IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 15A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PAGE 6, PART VI, LINE 19
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IRS990ScheduleR/AssetPurchaseFromOtherOrgInd0false
IRS990ScheduleR/AssetSaleToOtherOrgInd0false
IRS990ScheduleR/DivRelatedOrganizationInd0false
IRS990ScheduleR/GiftGrntCapContriFromOthOrgInd0false
IRS990ScheduleR/GiftGrntOrCapContriToOthOrgInd0false
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ControlledOrganizationInd0false
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ControlledOrganizationInd1false
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ControlledOrganizationInd2false
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DirectControllingNACd0N/A
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DirectControllingNACd1N/A
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DirectControllingNACd2N/A
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt0IRON WORKERS LOCAL NO 67 DC FUND
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt1IRON WORKERS WELFARE FUND
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt2IRON WORKERS PENSION TRUST
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IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/EIN1420842882
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/EIN2426242674
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IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ExemptCodeSectionTxt2401A
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IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PrimaryActivitiesTxt0PENSION
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PrimaryActivitiesTxt1HW FUND
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IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/AddressLine1Txt11501 E AURORA
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/AddressLine1Txt21501 E AURORA
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/CityNm0DES MOINES
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/CityNm1DES MOINES
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/CityNm2DES MOINES
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IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/ZIPCd250313
IRS990ScheduleR/LoansOrGuaranteesFromOthOrgInd0false
IRS990ScheduleR/LoansOrGuaranteesToOtherOrgInd0false
IRS990ScheduleR/PaidEmployeesSharingInd0true
IRS990ScheduleR/PerformOfServicesByOtherOrgInd0false
IRS990ScheduleR/PerformOfServicesForOthOrgInd0false
IRS990ScheduleR/ReceiptOfIntAnntsRntsRyltsInd0false
IRS990ScheduleR/ReimbursementPaidByOtherOrgInd0true
IRS990ScheduleR/ReimbursementPaidToOtherOrgInd0true
IRS990ScheduleR/RentalOfFacilitiesToOthOrgInd0false
IRS990ScheduleR/RentalOfFcltsFromOthOrgInd0true
IRS990ScheduleR/SharingOfFacilitiesInd0true
IRS990ScheduleR/TransferFromOtherOrgInd0false
IRS990ScheduleR/TransferToOtherOrgInd0false
IRS990/SchoolOperatingInd0false
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/SubjectToExcsTaxNetInvstIncInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt01594547
IRS990/TotalAssetsEOYAmt01532002
IRS990/TotalAssetsGrp/BOYAmt01594547
IRS990/TotalAssetsGrp/EOYAmt01532002
IRS990/TotalCompGreaterThan150KInd0true
IRS990/TotalContributionsAmt085000
IRS990/TotalEmployeeCnt010
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt00
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt00
IRS990/TotalFunctionalExpensesGrp/TotalAmt0631938
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt013397
IRS990/TotalLiabilitiesEOYAmt046541
IRS990/TotalLiabilitiesGrp/BOYAmt013397
IRS990/TotalLiabilitiesGrp/EOYAmt046541
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt01581150
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt01485461
IRS990/TotalOtherCompensationAmt046380
IRS990/TotalProgramServiceRevenueAmt0444635
IRS990/TotalReportableCompFromOrgAmt0113411
IRS990/TotalRevenueGrp/ExclusionAmt012434
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0438815
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0536249
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IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt01532002
IRS990/TravelGrp/TotalAmt031871
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IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt01501 E AURORA AVE
IRS990/USAddress/CityNm0DES MOINES
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IRS990/USAddress/ZIPCd050313
IRS990/VotingMembersGoverningBodyCnt06
IRS990/VotingMembersIndependentCnt06
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02023-04-26 12:10:37Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0JAMES WATT
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0TRUSTEE
ReturnHeader/BusinessOfficerGrp/PhoneNum05152629366
ReturnHeader/BusinessOfficerGrp/SignatureDt02024-02-14
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0LOCAL 67 TRAINING PROGRAM TRUST
ReturnHeader/Filer/BusinessNameControlTxt0LOCA
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ReturnHeader/Filer/PhoneNum05152629366
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ReturnHeader/Filer/USAddress/CityNm0DES MOINES
ReturnHeader/Filer/USAddress/StateAbbreviationCd0IA
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ReturnHeader/IRSResponsiblePrtyInfoCurrInd0false
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0470836395
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0DEBOER & ASSOCIATES PC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt017330 WRIGHT ST STE 100
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0OMAHA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0NE
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd0681302157
ReturnHeader/PreparerPersonGrp/PhoneNum04023335200
ReturnHeader/PreparerPersonGrp/PreparationDt02024-02-14
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0CHRIS WASSENAAR
ReturnHeader/ReturnTs02024-02-15T11:57:29-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonFirstNm0JAMES
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonLastNm0WATT
ReturnHeader/TaxPeriodBeginDt02022-12-01
ReturnHeader/TaxPeriodEndDt02023-11-30
ReturnHeader/TaxYr02022

Document Assets

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Filings

Displayed year

2023 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$1,532,002
Liabilities
$46,541
Net assets
$1,485,461
Revenue
$536,249
Expenses
$631,938
Net income
-$95,689
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Detailed filing. Detailed filing data is available for this year.$1.36$0.01$1.34$0.50$0.56$0.06
2024Detailed filing. Detailed filing data is available for this year.$1.43$0.03$1.40$0.52$0.60$0.08
2023Detailed filing. Detailed filing data is available for this year.$1.53$0.05$1.49$0.54$0.63$0.10
2022Detailed filing. Detailed filing data is available for this year.$1.59$0.01$1.58$0.61$0.54$0.07
2021Detailed filing. Detailed filing data is available for this year.$1.53$0.02$1.51$0.61$0.41$0.20
2020Detailed filing. Detailed filing data is available for this year.$1.36$0.04$1.31$0.66$0.40$0.26
2019Detailed filing. Detailed filing data is available for this year.$1.06$0.01$1.05$0.78$0.44$0.34
2018Detailed filing. Detailed filing data is available for this year.$0.77$0.06$0.71$0.54$0.41$0.13
2017Detailed filing. Detailed filing data is available for this year.$0.59$0.02$0.57$0.54$0.35$0.19
2016Detailed filing. Detailed filing data is available for this year.$0.41$0.03$0.38$0.43$0.32$0.11
2015Detailed filing. Detailed filing data is available for this year.$0.30$0.02$0.28$0.31$0.28$0.04
2014Detailed filing. Detailed filing data is available for this year.$0.26$0.01$0.24$0.24$0.30$0.07
2013Summary only. Only limited summary data is available for this year.$0.33$0.02$0.31$0.20$0.22$0.02
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.34$0.01$0.33$0.22
2011Summary only. Only limited summary data is available for this year.$0.34$0.01$0.19$0.17$0.02